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Crypto Finance to Support Tron Blockchain and Its Native Token

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Zurich, Switzerland–(Newsfile Corp. – June 15, 2022) – TRON, one of the largest and most popular public blockchains, has announced that TRX will be supported by Crypto Finance. More TRON-based tokens are expected to be added in the near future.

Image source: Tron

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https://orders.newsfilecorp.com/files/8506/127924_e7131aff44a6bb96_001full.jpg.

As part of Deutsche Börse and licensed by the Swiss Financial Market Supervisory Authority FINMA, Crypto Finance provides trading and asset management services to institutions, including banks and financial service providers.

In September 2021, the TRON ETN “VTRX” was listed on Deutsche Börse, and Euronext Amsterdam and Paris, among other national exchanges in the EU. With the support of Crypto Finance investors can directly invest in the underlying asset on a secure, compliant, and regulated crypto infrastructure.

“We continue to push the boundaries and add more and more cryptocurrencies to our platforms,” said Jan Brzezek, CEO and Founder of Crypto Finance. “Clients can now securely trade and store the token that powers the TRON ecosystem, TRX. Our FINMA-regulated brokerage and custody services provide clients seamless market access across this wide range of storable digital assets.”

With Crypto Finance’s support, TRON network will have access to:

  • Storage: Non-custodial private key infrastructure on the highest-grade hardware security modules
  • Custody: Fully regulated and compliant custody service for financial intermediaries
  • Trading: 24/7 regulated and licensed by FINMA to provide liquidity for banks and financial service providers

“This is yet another milestone in TRON’s global push and goal to become an all-inclusive global settlement layer that powers the next generation of cross-border payment systems. It is also a reflection of the community’s effort to keep up with evolving regulatory standards in the crypto industry,” said H.E Justin Sun, Founder of TRON.

About TRON DAO

TRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of June 2022, it has over 96.3 million total user accounts on the blockchain, more than 3.3 billion total transactions, as reported on TRONSCAN. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently, the over-collateralized stablecoin USDD was announced on the TRON blockchain, backed by the first-ever crypto reserve for the blockchain industry – TRON DAO Reserve, marking TRON’s official entry into decentralized stablecoins.

TRONNetwork | TRONDAO | Twitter | YouTube | Telegram | Discord | Reddit | GitHub | Medium | Forum

Media Contact
Feroz Lakhani
[email protected]

About Crypto Finance

Crypto Finance – a FINMA-regulated financial institution and a member of Deutsche Börse Group, offers professional digital asset solutions. This includes one of the first FINMA-approved investment firms with 24/7 brokerage services, custody, infrastructure, and tokenization solutions for financial institutions, as well as the first FINMA-approved manager of collective assets for crypto assets, with an active, rules-based, and index-based alternative investment fund offering, including the first Swiss crypto fund. With a team of over 100 employees, Crypto Finance is headquartered in Switzerland and has a regional presence in Singapore. Since its founding in 2017, the company has received numerous awards, including Crypto Valley Top 50 Blockchain Company, Top 100 Swiss Start-up, and winner of the Swiss FinTech Award 2019.

Media Contact
Chris Benros
[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127924

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

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Blockchain

Financial industry bodies defend permissionless blockchains against Basel Committee’s classification

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financial-industry-bodies-defend-permissionless-blockchains-against-basel-committee’s-classification

Five financial industry bodies have pushed back against the treatment of permissionless blockchains by a global banking supervision authority.

In December, the Basel Committee on Banking Supervision (BCBS) published a report on proposed amendments to bank capital requirements for digital assets, stablecoins, and tokenized assets.

The report classified all permissionless blockchains as high-risk, claiming that some risks could not be mitigated through existing solutions. BCBS was particularly concerned about banks’ lack of control over third parties who conduct most operations on these blockchains. It also warned about their privacy, finality, liquidity, and political, legal, and policy risks.

In response, five global financial industry regulators have defended permissionless blockchains. In a joint response, they stated that the industry “has all necessary expertise and robust compliance frameworks to fully identify, manage and mitigate these risks.”

The five are the International Swaps and Derivatives Association, the Global Financial Markets Association, the Institute of International Finance, the Futures Industry Association, and the Financial Services Forum.

Blockchain’s application in the financial industry is evolving, and regulators must not disincentivize banks from exploring the technology, the regulators stated. By putting up unnecessary hurdles, the BCBS would only push these institutions to the non-regulated shadow banking space, which would be riskier for them.

The regulators further noted that dozens of global banks have conducted successful pilots using permissionless blockchains. These pilots have shed more light on the technology’s application and allowed them to understand and control emergent risks.

The BCBS approach is unfair to blockchain and veers away from the regulator’s long-held “same asset, same risk” approach, they added.

“While we acknowledge that risk mitigation techniques are evolving for permissionless crypto assets…we are confident that solutions already exist in respect of specific use cases,” the five stated.

They believe deciding whether to build on permissionless blockchains should be left to the banks.

The financial sector has been a leader in blockchain adoption, with some, like JPMorgan (NASDAQ: JPM), developing their own permissioned networks, albeit unsuccessfully. However, most have relied on existing solutions to build applications spanning settlement, bond issuance, tokenization, etc.

Source: coingeek.com

The post Financial industry bodies defend permissionless blockchains against Basel Committee’s classification appeared first on HIPTHER Alerts.

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